Citigroup Issues Pessimistic Forecast for Canadian Pacific Kansas City (NYSE:CP) Stock Price

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target cut by Citigroup from $98.00 to $91.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CP has been the topic of a number of other research reports. Stifel Nicolaus reduced their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Stephens dropped their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Bank of America dropped their price target on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Finally, Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their target price for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

Canadian Pacific Kansas City Stock Down 2.2 %

Shares of NYSE:CP traded down $1.64 on Tuesday, hitting $74.23. 985,382 shares of the company’s stock were exchanged, compared to its average volume of 2,163,988. The firm’s 50-day moving average is $81.62 and its 200 day moving average is $80.67. Canadian Pacific Kansas City has a 1-year low of $69.27 and a 1-year high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $69.28 billion, a PE ratio of 26.76, a P/E/G ratio of 2.25 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that Canadian Pacific Kansas City will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a dividend yield of 0.75%. Canadian Pacific Kansas City’s payout ratio is currently 19.64%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several large investors have recently modified their holdings of the business. Encompass Capital Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth about $11,810,000. Cetera Investment Advisers increased its holdings in shares of Canadian Pacific Kansas City by 272.0% during the first quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after purchasing an additional 40,380 shares during the period. Magnetar Financial LLC bought a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $2,629,000. Raymond James & Associates grew its position in Canadian Pacific Kansas City by 1.5% during the second quarter. Raymond James & Associates now owns 778,881 shares of the transportation company’s stock worth $61,321,000 after buying an additional 11,416 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after acquiring an additional 1,678,784 shares during the period. 72.20% of the stock is currently owned by institutional investors.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.